Board of Governors of the Federal Reserve System

The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system.

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Data Dictionary

Item Number C504

BANK-OWNED LIFE INSURANCE: KEY PERSON LIFE INSURANCE

Call confidentiality applies to FFIEC 031/041.

Series	Start Date	End Date	Confidential?	Reporting Forms
SVGLC504	2004-03-31	2011-12-31	No	OTS 1313

Data Description:

Includes the cash surrender value of bank-owned life insurance that you consider key-person insurance, where the intended purpose is to provide the institution protection against the potential for losses arising from the untimely death of a key employee or borrower. You generally surrender these policies when the key employee leaves your institution or when the borrower pays off his loan.

NOTE:

Reported on Schedule SC Other Assets for the SVGL report.

Last update: May 16, 2024